For Sale By Auction | 14:00, 31 January 2019

38-40, Reform Street, Dundee, DD1 1RT

*Guide | £170,000+ (plus fees)

  • Retail Property (high street)
  • Tenure: Freehold

Call the team on 0141 339 4466 for more information

Auction Date

Thu 31/01/2019

Auction Time

14:00

Auction Venue

Radisson Red, 25 Tunnel Street, Glasgow, G3 8HL

Commercial retail unit

This sizeable commercial retail unit enjoys prime position in Dundee city centre with excellent frontage onto both Reform Street and Bank Street. The accommodation is over two floors with the ground floor being 79 sq. metres (850 sq. feet) and basement level extending to 115 sq. metres (1240 sq. feet). This generous space, allied with city centre location and highly attractive Guide Price, would suit a number of end uses and formats, but the current internal accommodation comprises an open plan retail area with back shop/store on the ground floor with a larger open area, two meeting rooms and toilet facilities on the basement level. The current rateable value is published as £25,200 although the property has been vacant for more than one year which may allow the new owner to apply for a further rate free period.

Tenure

Freehold

Prime Dundee city centre location

Variety of end use opportunities

Comparable rentals show potential rental yield in excess of 11%

Attractive Guide Price to achieve quick sale

Highly visible double frontage corner site

Area

Dundee is Scotland’s fourth largest city and is currently a period of regeneration throughout the city culminating with the recent opening of the much anticipated V&A Museum on the waterfront. Dundee is widely recognised as a centre of excellence for further education with two universities – Dundee and Abertay Universities. Dundee has its own airport and is also conveniently located on the main East coast line for train services to London Kings Cross.

Local Authority

Dundee City Council

Additional Fees

Administration Charge - Purchasers will be required to pay an auction fee of £2,000 inc VAT unless otherwise stated

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.